ASEM has emerged as an important vehicle for linking Asia and Europe. This paper searches for an effective role for ASEM by suggesting ASEM to take up the contentious issue of combating bribery and corruption. This paper describes the recent international movement to combat corruption against the backdrop of multilateral efforts to develop a framework for investment liberalization. In the process, it is argued that ASEM can play an important role by assisting the discussion on combating corruption in other multilateral bodies. This paper describes the current efforts at ASEM level to combat corruption, and proposes that ASEM should first take up the issue of combating international corruption before tackling domestic corruption issues.

Ⅰ. Introduction

Ⅱ. FDI's Role in the International Economy

Ⅲ. Complementary Economic Gains between Asia and Europe

Ⅳ. Investment Liberalization and Combating Corruption

Ⅴ. ASEM's Role in Trade and Investment Promotion

Ⅵ. International Crusade against Bribery and Corruption

Ⅶ. ASEM's Role in Combating Corruption

Ⅷ. Conclusion

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